I am building a new home, the Builder has provided me a confirmed possession date letter, but now for some reason they can not give possession on the promised date and want to push the closing. Can I get my deposit back and not take possession of the house or do I have bend which ever way the builder wants?
Builder Not Honoring Confirmed Possession Date
- Thread starter chkamran
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QUOTE (chkamran @ Mar 4 2008, 12:12 PM) I am building a new home, the Builder has provided me a confirmed possession date letter, but now for some reason they can not give possession on the promised date and want to push the closing. Can I get my deposit back and not take possession of the house or do I have bend which ever way the builder wants?
Builder purchase contracts are not standard and for a true answer on this you`d need to get a lawyer to review it for you.
Builder purchase contracts are not standard and for a true answer on this you`d need to get a lawyer to review it for you.
What are the implications of having the posession date pushed off? I recently purchased 2 homes and due to unforseen problems, the builder was not going to be able to finish on time. I happily told him to complete the other houses on time and I would wait another 2 months for mine. Equity appreciation without the mortgage payments!
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If you want the property you bend, If you want out demand your money back and see what he offers. It may come down to how good a poker player you are.